Bill Gates got to testify before Congress at the beginning of a week to push for education and immigration reforms. His speech was mentioned in a NYtimes article. He warns us that if the US does not train more students in maths, engineering and sciences, America's leadership could be at stake.
It is true that not enough resourses have been invested into the educational system to train young kids in scientific fields. As pointed out in the article, it is obvious that in an economy based on innovation and knowledge, making sure that high schoolers and college students master these areas is essential.
Bill Gates also argues that America should allow more foreigners with a scientific background into the country. Only 65,000 visas are granted every year, which is not enough to fill up all the open positions.
I am not so sure about that. Would opening the border lead to lower wages for skilled workers already in the US? Studies are extremely expensive here and you must be assured that your future income will allow you to reimburse your loans. On the other hand, if some positions remain for a long time available, then a company might consider relocation overseas where the labor market is more favorable to its needs.
In any case, The Bill and Melinda Gates foundation has been very active in making sure that more and more children are trained in maths and sciences and this is wonderful.
On the right of the picture, you can see legendary investor Warren Buffet next to Bill and Melinda. He recently announced a major donation to the foundation including ten million shares of his holding Berkshire Hathaway. Today's price for one share was $3,646.
Thank you Mr. Buffet.
Picture from gatesfoundation.org
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